The Charles Schwab Corporation · 2026 Q2
ReportedJul 21, 2026
Period endedJun 30, 2026
Rule of 40+79
Consensus vs reported
EPS
BEAT +6%
$1.62
vs $1.53 expected
QoQ+13.3%
YoY+42.1%
Revenue
BEAT +3%
$7.10B
vs $6.90B expected
QoQ+9.5%
YoY+21.3%
QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.
Reported this quarter
Revenue
$7.10B
QoQ +9.5%
YoY +21.3%
EPS
$1.62
QoQ +13.3%
YoY +42.1%
Free Cash Flow
$4.12B
QoQ -42.9%
YoY +35.0%
Gross Margin
74.7%
QoQ +2.6 pp
YoY +0.9 pp
FCF Margin
58.0%
QoQ -53.1 pp
YoY +5.8 pp
P/E Ratio
16.8
QoQ -10.0%
YoY -31.6%
Each tile opens the full quarterly series. Download the numbers as CSV or JSON.
What we learned
- The guidance raise did not come from rates, and Schwab said so. Full-year revenue growth went to 17.5–18.5% from the 14–15% given two months earlier at the May investor day, while the net interest margin outlook stayed unchanged at 3.00–3.10% .
- Trading is running at a record and management is calling it structural. Daily average trades hit 11.9 million, up 57% , with Wurster tying it to young investors and AI-driven research rather than a single volatile tape.
- The lending line is the clearest evidence the rate-play framing is stale. Pledged asset lines reached $33.4B, up 59% , at spreads more than 100 basis points above what the same balance sheet would earn in bonds. Lending is about 0.5% of client assets against roughly 4% industry-wide.
- A record quarter with a raised guide still fell 2.5%. Adjusted EPS of $1.62 against a $1.56 estimate on record net revenue of $7.1B, +21%. The move is the gap between what Schwab now earns on and what the market still prices it on.
- Three new revenue lines were announced in one release. The Cboe binary-options partnership on financial and economic events, Schwab Crypto at a 0.75% fee, and the Portfolio Insights AI tool. None of them is material yet, and all three are outside the securities portfolio.
Coverage around this release
Estimate against reported
Our published estimate
Reported EPS
| Quarter | Estimate | Reported | Surprise |
|---|---|---|---|
| 2024 Q3 | — | $0.77 | — |
| 2024 Q4 | — | $1.01 | — |
| 2025 Q1 | — | $1.04 | — |
| 2025 Q2 | — | $1.14 | — |
| 2025 Q3 | — | $1.31 | — |
| 2025 Q4 | — | $1.39 | — |
| 2026 Q1 | — | $1.43 | — |
| 2026 Q2 | $1.53 | $1.62 | +6% |
Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.
Sources & downloads
Company
Published by the company on the day of the release.
HTML
Earnings press release
Investor relations announcement
SEC filings
Filed with the SEC under CIK 316709.
HTML
8-K results announcement
Filed Jul 21, 2026
HTM
Press release (EX-99.1)
Exhibit 99.1 to the 8-K
1016 KB
HTML
Filing index
Every document in the 8-K submission
TXT
Complete submission
Raw archival text of the whole filing
JSON
Company facts (XBRL)
Every figure SCHW has reported to the SEC
R40 data
The numbers shown on this page, as we hold them.
CSV
This quarter (CSV)
Reported metrics for 2026 Q2, spreadsheet-ready
JSON
This quarter (JSON)
Metrics, dates and matched filings